Singapore-based iSTOX, which offers a securities issuance and trading platform, has reportedly bagged $50m in its Series A round.
The venture capital unit of Japan Investment Corporation and Development Bank of Japan, Juroku Bank and Mobile Internet Capital participated in the round, marking their first investments into iSTOX, according to a report from Crowdfund Insider.
Other backers included previous backers Singapore Exchange, Tokai Tokyo Financial Holdings, Hanwha Asset Management, Heliconia Capital Management and Kiatnakin Phatra Financial Group.
With the capital raised, the company plans to extend its geographical footprint, as wells as release new offerings. The company is also planning to release private issuances by blue-chip issuers that individual investors can subscribe to in small portions.
Singapore-headquartered iSTOX enables individuals and corporates to invest into vetted private companies from around the world. Users can invest into primary offerings or trade on its secondary market.
To qualify as an individual investor they need to have a yearly income of SGD $300,000 ($226,000), have net financial assets of at least SGD 1m ($753,000) and have total assets of at least SGD 2m ($1.5m).
Investors can back private equity, real estate, exclusive funds and private debt.
Last year, the company collected a $5m investment from Hanwha Asset Management. Prior to that, the FinTech bagged a $5m investment Tokai Tokyo Financial in November 2019.
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